Tuesday Saw Strong Market Performance by Milota Sidorova

Markets are coming back to normal – that´s how observers could comment Tuesday´s preformance on Wall Street. Stocks fueled by stronger manufacturing and retail sales reached maximum this year. Although, there´s no reason to think the recession may be over, economic data suggest it could be the breaking point. The main Dow Jones index gained 56.1 points, or less than 0.6 percent and ended up with 9,683.41 points. The Standard & Poor's 500 Index also rose 3.29 points, equal to 0.31 percent and finished above 1,050 level. It’s been for the first time since last October. Technology index Nasdaq Composite increased with 10.86 points, 0.52 percent and ! totaled 2,102.64 points. The key factor that boosted the sales was increasing demand for raw materials from steel and metal industry. According reports stocks of an aluminum company Alcoa went up 8.1 percent to $13.99, steelmaking AK Steel gained 5.7 percent to $23.11 per share and US Steel also rebound 4.8 percent to final $48.98 per share. Commodities went up, sending the Reuters-Jefferies CRB index to its biggest gain during past month, after getting another 2.2 percent. Nasdaq rose after Adobe Systems Inc reported it was buying business software maker Omniture inc and Web on-line seller eBay and Internet company Yahoo upgraded and theirs stocks increased as well. According Kim Caughey, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh, the recovery may be coming from the ground as the most necessary materials and procuts were in increasing demand. Many hope this could be the beginning of recovery, even Federal Reserve Chairman Ben Bernanke who re! ported to media that the recession is „very likely over.! “ Bernanke is one of few person directly influencing market, so his words can boost the international sales.

related story (sgx15383): http://news.yahoo.com/s/nm/20090915/bs_nm/us_markets_stocks;...

by Milota Sidorova for PocketNews (http://pocketnews.tv)

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